ADX BTC on daily chart is now nearing the apex of a possible falling wedge. There are two possible scenarios:
1) The pair breaks out of the wedge above 0.000145. Conservative buy orders can be placed after the breakout confirmation. Targets are marked on the chart with blue lines. A break inside the wedge again on closing basis can be treated as stoploss
2) The price hits the top end of the falling wedge and falls back towards the lower end, in that case, buying range would be around 0.000086 (marked in orange). Targets will remain the same.
Happy trading :)
1) The pair breaks out of the wedge above 0.000145. Conservative buy orders can be placed after the breakout confirmation. Targets are marked on the chart with blue lines. A break inside the wedge again on closing basis can be treated as stoploss
2) The price hits the top end of the falling wedge and falls back towards the lower end, in that case, buying range would be around 0.000086 (marked in orange). Targets will remain the same.
Happy trading :)
Comment:
Are we seeing a big booming breakout today? or is it another false call? We will find out soon :)